Wall Street Addict

Financials: Washington Mutual (WM) fell 16% on Wednesday after reporting that credit losses for the year could be as much as $2.9 billion. Adami concedes Goldman Sachs (GS) could trade down to $205 and that is where investors should look to buy it. Finerman likes Goldman and is currently long the company and short Lehman Brothers Holdings (LEH) and Merrill Lynch (MER). Najarian recommends State Street (STT). Morgan Stanley (MS) took a $3.7 billion write-down for the fourth-quarter.
Crude oil hit another record high on Wednesday trading up to $98.62. Addison Armstrong, Director of Market Research at Tradition Energy joined the show and said the long term trend is still bullish for oil. He sees that oil demand is strong and supply is very tight and the oil markets have zero margin for error right now. Najarian mentions the largest oil trader on the New York Mercantile Exchange told him that oil is the new currency and it's going to $150.
Consumer Trade
Same-store sales are set to be released for some of the biggest retailers on Thursday. Finerman likes that expectations are low and she still owns Wal-Mart (WMT) Adami declares the only way to play the retailers is with MasterCard (MA).
Word on the Street
American International Group (AIG) falls 3% after hours on a 27% drop in third quarter profits. Cisco Systems (CSCO) falls 9% after hours despite a 37% rise in first quarter profits. Research In Motion (RIMM) and Amazon (AMZN) bucked the market weakness to close higher on Wednesday. Adami mentions that Citigroup upgraded Allstate (ALL) and he would own it here for a trade, and stop out at $50. First Solar (FSLR) explodes up 22% after hours on a blowout quarter.
Pops & Drops
Pops - Potash (POT) traded up 2%.
Onyx Pharmaceuticals (ONXX) exploded up 18% after the drug company posted a third quarter profit.
DirectTV (DTV) traded up 3% after subscribers grew by 400,000.
TurboChef Technologies (OVEN) traded up 9% after the oven maker reported a smaller loss.
Drops - Fannie Mae (FNM) fell 10%
Ford Motor (F) fell 5% in front of earnings set for Thursday.
Yahoo (YHOO) fell 8% after Alibaba.com fell 17%.
Capital One (COF) fell 16% after warning on credit losses.
Fluor (FLR) fell 6% after missing Wall Street estimates.
Final Trade
Seymour thinks its payday with Gold Fields (GFI).
Adami's play is Short Dow30 Proshares (DOG).
Finerman still recommends being long Goldman Sachs (GS) and short Lehman Brothers (LEH).
Najarian likes green play Evergreen Solar (ESLR).

Labels: AIG, ALL, AMZN, CSCO, DTV, Fast Money Recap, FSLR, GS, LEH, MA, MER, MS, ONXX, OVEN, POT, RIMM, STT, WM, WMT

Wall Street sank for a second straight session Tuesday after Federal Reserve Chairman Ben Bernanke said the slumping housing market remains a "significant drag" on the economy.
Bernanke's speech Monday night in New York elevated concerns that the summer's credit tightness might persist into the winter -- a sobering thought for investors, who are sifting through mixed third-quarter earnings and watching energy costs rise.
"First of all, the worry is we're getting more bad news on housing. No. 2 is higher oil prices. That's a pretty bad combination," said Hugh Johnson, chief investment officer of Johnson Illington Advisors.
Crude oil prices spiked to another record above $88, and a National Association of Home Builders' index that tracks developers' expectations of future home sales fell for the eighth consecutive month to the lowest point since January 1985. Also Tuesday, Treasury Secretary Henry Paulson echoed Bernanke's concerns, saying housing is a significant risk to the economy.
The uncertainty on Wall Street about the economic outlook "comes at a time when earnings results are not particularly exciting -- in fact, are dismal," Johnson said.
The Dow Jones industrial average fell 71.86, or 0.51 percent, to 13,912.94, after falling more than 100 points earlier in the session.
Broader indicators also declined. The Standard & Poor's 500 index slid 10.18, or 0.66 percent, to 1,538.53, and the Nasdaq composite index dipped 16.14, or 0.58 percent, to 2,763.91. The Russell 2000 Index of smaller companies fell 6.01, or 0.72 percent, to 823.35.
Source: Madlen Read, AP Business Writer

Labels: Ben Bernanke, BSC, C, Crude Oil, INTC, Oil Futures, STT, USB, WFC, YHOO

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
Gaps Down 5% or More: These are stocks that gap down by 5% or more and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that gap down by more than 5% have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Compuware (NasdaqGS:CPWR - News). CPWR's PowerRating is 6.
Laps Down 5% or More: These are stocks that lap down by 5% or more and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that lap down by more than 5% have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Dendreon (NasdaqGM:DNDN - News). DNDN's PowerRating is 5.
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge. Historically, these stocks have provided traders with a significant edge.
State Street Corporation (NYSE:STT - News). STT's PowerRating is 6.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Hormel Foods (NYSE:HRL - News). HRL's PowerRating is 6.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Mastercard (NYSE:MA - News). MA's PowerRating is 7.
Bearish
5+ Consecutive Up Days: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
NYSE Euronext (NYSE:NYX - News). NYX's PowerRating is 3.
5+ Consecutive Higher Highs: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
JDS Uniphase (NasdaqGS:JDSU - News). JDSU's PowerRating is 2.
PowerRatings (for Traders) are courtesy of TradingMarkets.com

Labels: CPWR, DNDN, Hot Stocks, HRL, JDSU, MA, NYX, STT